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Celanese Completes Sale of PVOH Business to Sekisui Chemical

Celanese Corp., a leading global chemical company, has announced it has completed the sale of its polyvinyl alcohol (PVOH) business to Sekisui Chemical Co., Ltd. for the purchase price of approximately $173 million, excluding the value of accounts receivable and payable retained by Celanese. Celanese announced its agreement to sell its PVOH business to Sekisui on April 27, 2009.

The sale includes the facilities in Calvert City, KY, Pasadena, TX, one unit within the complex at Tarragona, Spain, and resources from the company’s Houston Technology Center. In total, approximately 250 employees located at these operations, supported by personnel in administrative, technical, and sales functions, will join Sekisui. In addition, the transaction includes long-term supply agreements between both companies.

Based in Osaka and Tokyo, Japan, Sekisui is a global company whose products include high performance plastics and polymers, urban infrastructure and environmental products, and housing materials, with annual sales of approximately $10 billion and 18,000 employees.